Young Buck is heading back to court over assets in his bankruptcy case.
According to court documents obtained by AllHipHop, the Acting United States Trustee for Region 8 filed a motion to compel Young Buck to produce information about his assets.
The U.S. Trustee said the veteran rapper never shared documentation regarding a black truck, a royalty payment and bank account statements.
“Debtor is in possession of the Requested Information, or he has the means to readily obtain it,” U.S. Trustee Paul Randolph wrote. “At the 2004 Exam, Debtor agreed to produce the Requested Information promptly following the exam.”
Randolph continued, “On May 17, 2022, the U.S. Trustee sent an email to Debtor’s counsel reminding Debtor of the Requested Information that needed to be produced. Follow-up emails were also sent on June 16, 2022 and June 24, 2022. Despite agreeing to produce the Requested Information, Debtor has failed to produce the Requested Information. Debtor has not provided any reason for this failure.”
The U.S. Trustee sought the VIN number of Young Buck’s black truck and the denial of an insurance claim. The government also asked for contact information for a company that sent him a royalty payment in April and Wells Fargo bank statements from March until now.
“Because Debtor has failed to produce the Requested Information, the U.S. Trustee requests this Court enter an order compelling Debtor to fully produce the Requested Information on or before July 15, 2022 at 5:00 p.m. (CST),” Randolph wrote.
Young Buck is scheduled to return to court on July 12. The hearing will be of keen interest to 50 Cent, who’s still trying to collect money from his G-Unit artist.
The trustees believe Young Buck has been hiding assets that need to be declared to satisfy his various creditors, including Fif and G-Unit.
In addition to a pair of albums Young Buck never recorded for G-Unit Records, 50 maintains the rapper still owes him $250,000 for a loan.
During the bankruptcy proceedings, the trustee overseeing the case also found that Young Buck was hiding hundreds of thousands of dollars in income derived from his publishing company.
The rapper settled with the trustee and agreed to pay $515 a month until a formalized agreement was worked out, but later, they accused the rapper of hiding more than just his publishing income.
The trustee wanted information on the value of his gold teeth, a “615 Cashville Records” iced out necklace, a Rolls-Royce, a Ford F-150, a black truck, a motorcycle, and eve donations he solicited via Cash App.
In May, 50 Cent’s lawyers asked a judge to throw the bankruptcy filing out of court, because Young Buck was not forthcoming with the assets he possessed.
“By failing to disclose that he owned the Black Truck, including without limitation at his meeting of creditors and on his schedules, Defendant knowingly and fraudulently, in or on connection with the Bankruptcy Case, made a false oath or account,” 50 Cent’s attorneys told the court.
